Vertex on Fan Pier Good News for South Shore Real Estate

Fan Pier Boston - Water Shuttle

Could the news that Vertex Pharmaceuticals is moving from Cambridge to Fan Pier mean good things for the housing market on the South Shore? The news that Cambridge based Vertex Pharmaceuticals will be relocating to Fan Pier in Boston was greeted with predictable applause from city of Boston officials and commercial real estate professionals in the South Boston/Downtown area, but there were cheers from the South Shore as well. Vertex Spokesman Zachry Barber reports that the agreed upon lease term is for 15 years and will include an average annual rent of $72.5 million. The two buildings to be built will total 1.1 million square feet, and will be the new home of thousands of workers. Vertex’s new addresses will be at 50 Northern Ave. … [Read more...]

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